The thing a lot of folks seem to miss is that it isn't just D&D using the OGL, there are non-D&D games (such as Fate, Fudge. Etc) which license themselves using the OGL.
I dont think people expected wizard's to try and interpretation that as something they can try and revoke. But they are trying and it might go to court.
Neither did the version of OGL they published their stuff over.
Imagine that the FSF goes crazy and writes a new version of GPL which gives them ius primae noctis, and also in the same new version they state the previous old version is no longer valid. That is the approximate analogy here.
It'd be crazy.